RASI - Restaurant Accounting Services Inc.

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The Tip ShareHow To Calculate California Restaurant TaxIn California, restaurants are responsible for paying sales tax to the state on taxable items. What makes a transaction taxable? The answer gets a little complicated for restaurants. The key distinctions are whether the food is hot or cold, and whether it is intended to be consumed on the premises. In this episode, we'll show you how to calculate restaurant taxes in California, discuss additional California restaurant taxes, and teach you some tips on how to streamline this whole process. Read the full Blog Post: Watch the full Video: https://youtu.be/qPvwsIybmOM So...2023-05-0802 min

The Tip Share8 Benefits of Restaurants Using Payroll Management Technology If you're running a restaurant, managing payroll can be time-consuming and challenging. But with payroll management technology, you can streamline the entire process, saving time and reducing errors. In this episode, we'll explore the benefits of using payroll management technology in your restaurant, including improved payroll compliance, flexible paydays and cycles, and online employee access. Don't let payroll management slow you down. Listen on to learn how to leverage technology for more efficient financial management in your restaurant. Read the full Blog Post: https://rasiusa.com/blog/8-benefits-of-restaurants-using-payroll-management-technology-rasi/ Watch the full Video: https://yo...2023-03-2707 min

The Tip ShareHow Do Restaurants Use Data Analytics?When it comes to restaurant data, most operators record and track basic sales data, such as tickets, ticket size, tips, and nightly totals for food and beverage. They may be doing this manually, or directly through their point of sale (POS) system. Your average restaurant then takes this basic sales data, copies it into spreadsheets, and hands it over to their accountant to calculate critical financial performance metrics. The accountant then issues periodic reports that allow the restaurant owner to retrospectively know how he did for the past period. Sound familiar? Clearly, this is a state of affairs ripe fo...2023-01-3009 min

The Tip ShareShift Schedules: A Complete GuideIf you manage a restaurant, you already know how important shift scheduling is. But are your shift schedules working in the best interest of your staff and entire restaurant? Given the unique demands of scheduling shifts – after all, less than half of U.S. restaurant workers are full-time employees – it helps to understand how this underrated aspect of managing your restaurant can make or break your operation. RASI’s complete restaurant accounting services help support your shift scheduling tasks, thanks to an innovative data analytics platform that provides timely information so you can make the best possible shift...2022-09-1905 min

The Tip ShareRestaurant Accounting: Complete GuideGetting a restaurant up and running is a challenge. Keeping a single establishment or franchise profitable over months and years is even more so. What separates the restaurants that quickly fail from those that have been established for an extended period? You could argue – and we’d certainly agree – that taking advantage of a restaurant accounting software and service is the most significant single factor determining long-term success. As the leader in automated, expert accounting for the restaurant industry, RASI has put together an ultimate guide on restaurant accounting as an educational resource for you: Understanding the di...2022-08-2209 min

The Tip ShareHow Does the New Mexico Healthy Workplaces Act of 2021 Affect Your Restaurant?The Healthy Workplaces Act of 2021 takes effect on July 1, 2022. This law requires all private employers in New Mexico to allow employees to accrue and use earned sick leave. Employees may use this leave for several reasons listed in the Act; for example, taking care of a qualifying family member or recovering from an illness themselves. Check out this episode to learn everything you should know about the new legislation. Read the full Blog Post: https://rasiusa.com/blog/how-does-the-new-mexico-healthy-workplaces-act-of-2021-affect-your-restaurant Watch the Quick Snippet Video: https://youtu.be/QPVJAq5mULM Soc...2022-06-2705 min

The Tip ShareEverything You Need to Know About the Colorado Retail Delivery FeeEffective July 1, 2022, the state of Colorado will impose a retail delivery fee on all deliveries by motor vehicle to a location in Colorado, even if the delivery originates in a different state. Here's what you should know. Read the full Blog Post: https://rasiusa.com/blog/everything-you-need-to-know-about-the-colorado-retail-delivery-fee Watch the Quick Snippet Video: https://youtu.be/JA8tanVnJVk Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RAS...2022-06-2007 min

The Tip ShareQuick Snippet: The Importance of Franchise AccountingA franchise is all about authorization. For entrepreneurs and small business owners, owning a franchise offers them the ability and support to carry out the larger corporation’s core company offerings and commercial activities. During this quick snippet, we'll review some core principles and applications of franchise accounting basics, franchise accounting system benefits, and other insights surrounding franchise accounting. Read the full Blog Post: https://rasiusa.com/blog/the-importance-of-franchise-accounting Watch the Quick Snippet Video: https://youtu.be/tSP1m-JhFb0 Social Handles: RASI Instagram: https://www.instagr...2022-06-1304 min

The Tip ShareTop Restaurant Food Cost Management Tips: How To Use A Declining BudgetOne of the most important tools in restaurant accounting to effectively manage food cost is a Declining Budget. When used properly, a Declining Budget can be one of the best tools for stabilizing your costs as well as increasing your cash flow. Learn more about how this particular budget will support management in monitoring variable spending and fluctuating sales (revenue). Watch the full Video: https://youtu.be/fAdBDluDBCc Read the full Blog Post: https://rasiusa.com/blog/how-to-use-a-declining-budget-restaurant-food-cost-management/ Social Handles: RASI Instagram: https://www.instagram.c...2022-05-3008 min

The Tip ShareWhy You Shouldn't Ignore Payroll Compliance And How To Make It Painless!Payroll is one of the most critical aspects of any business. Properly paying your team creates trust, longevity of employment, and assists in avoiding costly payroll compliance issues. During this episode of The Tip Share, RASI Director of Compliance, Brian Smith, sits down with Brent Beatty, 7shifts Senior Director of Product to discuss the current industry landscape when it comes to labor and payroll compliance, and the array of solutions that the RASI + 7shifts partnership provides to address the current climate. Read the full Blog Post: https://rasiusa.com/blog/why-you-shouldnt-ignore-payroll-compliance-and-how-to-make-it-painless/ Watch the full V...2022-05-2323 min

The Tip ShareHow to Start a Restaurant - The Ultimate Financial PlanYou’d like to know how to start a restaurant business but are not exactly sure where to begin. You want to start a restaurant and you create the ideal concept in your head. That concept begins with the idea at its inception. However, for your idea to survive, or even better to thrive, it must operate on a consistently executed financial plan and a sound restaurant business proposal. 50% of the restaurant concepts we see are largely “inspired” by existing operations. Beyond this, 85% of your food and supply purchases will be delivered from the same major distribution compan...2022-05-0913 min

The Tip ShareWhat is the Average Profit Margin for a Restaurant?The restaurant industry has, by and large, low-profit margins constrained by high capital, labor, and operational expenses. Yet there is a wide range of profitability within the industry, from white tablecloth establishments with low single digits profits to quick-service restaurants clearing over ten percent (if they’re really on top of their game). Despite this variability, restaurant profit margins most commonly fall within three to five percent of annual revenue. An adequate profit margin is critical for the sustainability of a restaurant business, as it’s from the profits, however slim that owners get paid, and restaurants grow...2022-05-0210 min

The Tip ShareTop 3 Reasons Outsourcing Accounting & Payroll Will Benefit a QSRQuick service restaurants (QSR) have complex accounting and payroll needs. Traditionally, expensive salaried employees have fulfilled these needs, but in the last 5+ years, technological advancements have opened the door to more cost-effective alternatives that increase operational efficiencies! Today, the QSR industry can benefit from software-based outsourced accounting teams, which offer all in-house accounting expertise at a fraction of the price. Tune in to learn how Quick Service Restaurants can benefit from updating their software with RASI! Read the full Blog Post: https://rasiusa.com/blog/top-3-reasons-outsourcing-accounting-payroll-will-help-a-qsr-brand-find-success/ Watch the full Video: https://youtu.b...2022-04-2506 min

The Tip ShareHow to Record Tips in AccountingWhen restaurant staff receives tips, both employee and employer incur legal obligations to the IRS to correctly record the tip amounts, comply with reporting requirements, and pay income and payroll taxes. For the restaurant operator, it’s critical to get these details correct from the start to avoid unnecessary penalties. This article will cover how to record tips in accounting and what the tax responsibilities look like from the employer and employee sides. Read the full Blog Post: https://rasiusa.com/blog/how-to-record-tips-in-accounting Watch the full Video: https://youtu.be/o0XmOorroGM ...2022-04-1807 min

The Tip ShareUnderstanding the Function of Your Restaurant's Cash Flow StatementExperienced restaurant operators closely manage the inflows and outflows of cash through their business. Sound management of available cash is critical to the ability to pay wages, keep the lights on, stock the walk-in, and make distributions to owners. The financial document that summarizes these transactions is known as the restaurant cash flow statement. An understanding of this document is important not just for your accountant, but for owners and managers as well. Once you can interpret your cash flow statement, you’re in a position to more accurately project the future financial health of the restaurant. 2022-04-1116 min

The Tip ShareHow to Turn Your Restaurant Analytics into Profitable Business IntelligenceToday, innovative restaurants are using business intelligence to drive operational efficiencies, improve profitability, and reduce managerial burdens. How do they do it? The clearest way to understand restaurant business intelligence is to run through example metrics used by experienced operators. Note that in order to use business intelligence in your restaurant, you need to be running modern restaurant management software that collects, tracks, and reports on relevant metrics. Read the full Blog Post: https://rasiusa.com/blog/turn-your-restaurant-analytics-into-profitable-business-intelligence Watch the full Video: https://youtu.be/2a863iE-it0 Social Handles: R...2022-03-2807 min

The Tip ShareRestaurant Sales Forecast with POS DataAs a restaurant operator, you know that a modern point of sale (POS) solution generates tons of data. The question is, how do you use that data to materially improve restaurant operations? One of the best applications for POS data is as a tool to make more accurate restaurant sales forecasts. Data-based sales forecasts can give you a degree of precision that was previously out of reach, as well as set you up to better allocate staff shifts, improve your COGS control, and instill a culture of financial responsibility in your management team. The above benefits are earned from h...2022-03-2112 min

The Tip ShareWhat is a Chart of Accounts for a Restaurant?As a restaurant operator, it’s critical that you understand your sources of revenue, your expenses, and the balance between the two. The chart of accounts is a comprehensive method of reviewing these critical performance indicators. Having a solid grasp of your chart of accounts gives you the information to make operational decisions that are fully informed by financial data. Watch here to learn the unique aspects of a restaurant's COA! Read the full Blog Post: https://rasiusa.com/blog/what-is-a-chart-of-accounts-for-a-restaurant Watch the full Video: https://youtu.be/2UD8yrnMChE Soci...2022-03-1409 min

The Tip ShareWhy Your POS System and Accounting Software Need to Be IntegratedThink of the multitude of processes your restaurant performs on a daily or weekly basis - Payroll. Payment processing. Vendor Payments. General accounting - and those are merely the tip of the proverbial iceberg. Now, think about how seamless all these tasks would be with a streamlined, automated accounting system that integrates directly with your point of sale (POS) system. This connection would provide a centralized source of data to eliminate manual processes and significantly reduce or outright eliminate human errors. Moreover, it would increase your restaurant’s profitability through timely and accurate reporting and provide insights into greater ar...2022-03-0708 min

The Tip ShareThe Best Tips for Strategic Vendor ManagementIf you’re new to the restaurant business, you’ve probably heard about strategic vendor management but aren’t exactly sure what it entails. Well-experienced business owners in the field know it’s absolutely critical for maximizing not just ROI but also the relationships and connections that make every day in a restaurant run smoothly. What is vendor management, and which issues pose significant challenges if vendors aren’t properly managed? We've created this page to answer all your questions and provide guidance for optimal vendor management best practices. Read the full Blog Post: https://rasiusa.com...2022-02-2808 min

The Tip ShareWhat to Consider When Setting Up Payroll for Your RestaurantYou may be asking, how does payroll work? That is, what should payroll look like for a restaurant? We’ll start with the basics. What is payroll? Payroll is the business process of regularly paying out all your wage, payroll tax, and benefit liabilities to employees. We’ll spell those out: wages are employee earnings, payroll taxes are the percent of earnings dedicated to taxes, particularly FICA (social security) and MEDFICA (medicare). Benefits are any payments you make on behalf of your employees in a manner specified by their employment contract, such as a contribution to a health savings acco...2022-02-2109 min

The Tip ShareHow Do You Categorize Restaurant ExpensesOpening a restaurant is a costly endeavor, and successfully running a restaurant requires strict attention to your restaurant expenses to control costs and increase efficiencies. Few restaurants can get by with paper, pencil, and a stack of excel sheets for manual data entry. Such restaurants miss out on the opportunity to reduce expenses and increase profits by gathering needed insights for operational changes. These insights stem directly from a modern accounting system that systematically labels restaurant expenses, highlights pricing and spending trends, offers comparative industry data, and empowers proactive operations management through continued education. Read the full...2022-02-1410 min

The Tip ShareHow Do Small Business Restaurants Make a Profit?One of the most critical metrics to understand and track as a restaurant operator is your restaurant profit margin. Simply put, to remain in business, you need to understand your margins and everything that goes into them. This seemingly simple metric contains a fair bit of complexity under the hood. Tune in to find out the top two ways to make your restaurant more profitable! Read the full Blog Post: https://rasiusa.com/blog/how-do-small-business-restaurants-make-a-profit/ Watch the full Video: https://www.youtube.com/watch?v=v8Or1wQFx9o Social H...2022-01-3112 min

The Tip ShareSmart Budgeting: The Key Ingredient to Any Restaurant’s SuccessWhether you’re opening a new restaurant or trying to streamline your existing eatery’s operations, there’s one thing you must optimize before anything else: your restaurant operating budget. If you’re new to the restaurant business, you can have everything lined up and ready to go: the perfect menu, ideal location, and a great clientele ready to serve. Yet there’s another ingredient that’s required for realistic, sustained success – a practical, precise budget. Why? Simply put, a budget assists operators in understanding their potential profits and maintaining consistent profitability. Tune in to lea...2022-01-2408 min

The Tip ShareHow To Automate Your Accounts Payable ProcessModern restaurants depend on various integrated technology for an increasingly large portion of their business processes. From POS systems to digital pay cards and HRIS solutions to data management software, automation is taking a front seat in restaurants' abilities to increase efficiencies, decrease costs, and minimize overhead. While digital automation continues to spread its wings, portions of the restaurant business remain stuck in paper-based processes. A crucial part of the business that handles supplier invoices and vendor payments, known as Accounts Payable, often falls within this category. This is detrimental to the business, as it's time-consuming and...2021-12-1308 min

The Tip ShareThe 2020 Tip Final Rule: 80/20 Guidance & Dual JobsSince 1967, the Department of Labor's Dual Jobs Regulation has stated that an employee may be employed in both a tipped and a non-tipped occupation simultaneously. Learn about the newest updates to the Dual Jobs Regulation and the 80/20 Guidance, why the rule was changed, and the details of the regulation in our latest episode of The Tip Share. Read the full Blog Post: https://rasiusa.com/blog/the-2020-tip-final-rule-dual-jobs-80-20-guidance/ Watch the full Video: https://www.youtube.com/watch?v=20qVAjH3qeE Social Handles: RASI...2021-11-2915 min

The Tip ShareEasy Tips To Understand How To Properly Read Your Balance SheetA restaurant Balance Sheet is the most important financial statement an operator has. If the Balance Sheet is not in line and accurate, then there is no question that the Profit and Loss Statement is inaccurate as well. Therefore, there is no true clear picture of where actual Net Profit lies. Additionally, this statement is extremely important for loan applications, business valuations, etc. In this post, we cover the basics of understanding how to read a Balance Sheet. Furthermore, how to utilize that knowledge into making profitable decisions in order to facilitate growth and success. 2021-11-2224 min

The Tip ShareUnbeatable Prime Cost Control Strategies To Increase Your Profits in 2022Now is a great time of year for operators to look back at their prime costs and determine where they can increase efficiencies and decrease costs in 2022. Industry supply/transportation issues and labor shortages control much of the conversation these days. Operators have been inhibited by the lasting impacts of the pandemic and are looking for ways to strategically move forward. Having the proper tools in place to keep a tight control on your prime costs is essential to both operational efficiency and profitability. Furthermore, by understanding what your prime costs are as...2021-11-1508 min

The Tip ShareHow To Choose The Best Accounting Service For Your Restaurant or BarDuring this episode of The Tip Share, the RASI Education Team helps hospitality owners and operators discover the top 4 guidelines that will help ensure they're on the right path to finding the best accounting service for their restaurant or bar! Watch the full Video: https://www.youtube.com/watch?v=Los6_7X2YP0 Read the full Blog Post: https://rasiusa.com/blog/how-to-choose-the-best-accounting-service-for-your-restaurant-or-bar Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://ww...2021-11-0807 min

The Tip ShareUnderstanding The Function Of Your Restaurant's Cash Flow StatementThe Cash Flow Statement represents how the Balance Sheet and P&L work together to have an impact on your cash and operating accounts. It is designed to show you where your cash is coming from, and where it is going within a specific time period. Because restaurants don't operate entirely on a cash basis, it's often difficult to find your cash position from the Income and Expense Statement and the Balance Sheet alone. In this episode of The Tip Share, RASI Education and Training Manager, Brittany Ward, breaks down the function of the Cash Flow Statement and why...2021-11-0108 min

The Tip ShareDOL Final Rule - Federal Protection for Tipped EmployeesThe Department of Labor has modified the 2020 Tip Final Rule. During this episode of The Tip Share, the RASI Compliance team dives into federal protection for tipped employees. Watch the full Video: https://www.youtube.com/watch?v=mMmTVto_g-0 Read the full Blog Post: https://rasiusa.com/blog/dol-final-rule-federal-protection-for-tipped-employees/ Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2021-10-2514 min

The Tip ShareTop 9 Restaurant Accounting Terms You Need To KnowRestaurant accounting terminology to busy restaurant owners is akin to a Doctor’s vocabulary to the average Joe. Not everyone speaks the language. However, understanding it is paramount to manage your money when it comes to your business lifeline – your accountant. How are operators supposed to know which are the most important, and where they apply? Unless you’re an accounting or finance major, you most likely know only a few, if any of these terms. As hospitality-specific accounting experts, we’ve rounded up the 9 most important terms that all restaurant operators should know. Watch the full Video: h...2021-10-1809 min

The Tip ShareTop 5 Strategies Restaurant Owners Should Use To Reduce Impacts of Supply Chain IssuesThe restaurant industry is facing major impacts from COVID with issues in the supply chain. The issues begin all the way at the top; from the growers/farmers facing labor challenges. It then travels down through the manufacturers. The manufacturers are having trouble with the roller coaster opening and closing of the economy, making it difficult to forecast properly. Next, it reaches the distributors who are dealing with limited truck drivers with new routes. This domino-like effect continues to rip its way through almost every industry, and business owners are having to pivot and adapt to make sure they...2021-10-1109 min

The Tip ShareTop Restaurant Accounting Tips: Closing Out Notes PayableSuccessfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Close is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions. To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. In this episode of The Tip Share, the R...2021-10-0405 min

The Tip ShareEverything You Need To Know About The EIDL Program UpdatesOn September 8th, the SBA announced massive changes to the COVID-19 Economic Injury Disaster Loans (EIDL) Program. The major changes include: Increasing the COVID-19 EIDL cap from $500,000 to $2 million A borrower can request more funding, up to $2million, even if they have already received COVID-19 EIDL The maximum amount of $2 million includes any funds that the borrower has already received Implementation of a 2-year deferred payment period (The original deferred payment period was 18 months) Without any action on the part of the borrower, the SBA will extend the deferment period of all existing COVID EIDL loans to 24 months ...2021-09-2713 min

The Tip ShareUse These 5 Tools to Increase Restaurant Revenue in 2022 and BeyondWhile creative marketing strategies and honing in on profitable menu items may support revenue growth, there are outside-of-the-box tactics that can help facilitate a steady increase in restaurant revenue. Strategic partnerships aren’t typically thought of as revenue generators. However, they create scale and provide expertise in areas beyond an operator’s bandwidth or knowledgeable scope in most cases. While RASI provides unmatched financial management within accounting and payroll, through our unique network of partners we’ve created strategic programs with premium industry leaders to provide a full-circle approach for restaurants to increase their revenues. Tune in to hear our to...2021-09-2006 min

The Tip ShareTop Restaurant Accounting Tips: Closing Out Vendor Payables & Credit Card LiabilitiesSuccessfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Close is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions. To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. In this episode of The Tip Share...2021-09-0607 min

The Tip SharePandemic Relief Resources for The Restaurant OperatorDuring this week's episode of The Tip Share, RASI Compliance Director, Brian Smith, breaks down available pandemic relief into bite-sized bits so operators can easily understand what's available to them! Tune in to learn more about The PPP, EPSL, ERTC, RRF, and the SVOG! Watch the full Video: https://www.youtube.com/watch?v=8_V2XtwaFV8 Read the full Blog Post: https://rasiusa.com/blog/pandemic-relief-resources-for-the-restaurant-operator Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://w...2021-08-3018 min

The Tip ShareRestaurant Hiring: Navigating the Labor Shortage featuring RASI Partner, 7shiftsIf you’re having trouble finding great people to work in your restaurant, you’re not alone. There’s a labor shortage impacting the restaurant industry, made tougher by the pandemic. But there is no shortage of jobs: there are more than 9 million open jobs in the United States. Early on in 2020, we were scrambling to figure out ways to get food to customers and how to give staff enough hours and keep them on the payroll. Now as we enter a recovery stage, the biggest challenge that’s emerged has become finding enough staff to fit the dema...2021-08-2306 min

The Tip ShareHow Accounting Period End Reviews Can Set Your Restaurant Up For Financial SuccessA consistent Period End Review process is an essential component to a restaurant's financial success. Period End Reviews allow operators to review metrics and identify areas of opportunity with audits and benchmarks. Operators who have a true understanding of their fiscal health enable themselves the ability to make proactive business decisions and improve their operational efficiency and ultimately, their profitability. In this episode of The Tip Share, RASI New Business Strategist, Dave Downs takes a moment to sit down with RASI Squad Leads and tenured accountants, Dave Holzer and Jesse Brown, to provide insight and expertise on th...2021-08-1616 min

The Tip ShareTop Restaurant Accounting Tips: Closing Out Capital Expenditures & Preopening ExpensesSuccessfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Close is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions. To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. In this episode of The Tip Share, RASI...2021-08-0907 min

The Tip ShareRestaurant Revitalization Fund (RRF) UpdatesWhile Congress created the Restaurant Revitalization Fund to provide relief to restaurants, a business sector extremely hard-hit by government-imposed shutdowns and other restrictions related to the COVID-19 pandemic, everyone knew the demand for the funds would be far greater than the supply. According to the SBA, more than 278,000 applications were received by June 30th, seeking more than $72.2 billion in funding. The SBA closed the program and stopped accepting applications on July 2nd, but less than 10 days after the SBA launched the RRF Portal on May 3rd, the applications submitted equated to more than twice the amount of funds available. Du...2021-07-2612 min

The Tip ShareHow To Accurately Calculate Liquor Cost in Your Restaurant or BarUnderstanding your restaurant's COGS (cost of goods or cost of sales - the cost of the goods you purchase and utilize to create revenue), is the key to success for every well-run restaurant. As every operator knows, industry margins are paper-thin. To become profitable, it's imperative that you gain a true handle on how to control COGS in your restaurant. There are very distinct nuances related to the management of food and beverage costs. Throughout this podcast episode, we will focus our attention more specifically on how to calculate and control liquor cost, why understanding liquor cost is so...2021-07-1906 min

The Tip Share3 Reasons Why Restaurants Need To Use Hospitality Accountants To Improve Their Financial ResultsCovid has changed the restaurant industry for the long haul. The harsh financial impact caused by the global pandemic has created the immediate need for financial accounting from professionals who aren’t simply knowledgeable in a general accounting field, but knowledgeable about restaurant operations and the restaurant industry as a whole. Having restaurant backgrounds enable hospitality-specific accountants to educate operators on best practices as well as train restaurateurs how to become powerful using industry-specific reporting and financial analysis, ultimately assisting operators in reaching their financial goals. For any operator who wants to improve their financial health, here are the to...2021-07-1216 min

The Tip ShareTop Restaurant Accounting Tips: Closing Out A/R & House Account BalancesSuccessfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Close is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions. To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. In this episode of The Tip Share...2021-07-0605 min

The Tip ShareYear-End Restaurant Treasury Focus: CARES Act Changes & NOL CarrybacksMany businesses struggled to turn out a profit or even mitigate losses throughout 2020. Fortunately, there were various articles of legislation passed within the last year that can help businesses start on the path of financial recovery. During this episode of The Tip Share, RASI Compliance Director, Brian Smith, walks RASI New Business Strategist, Dave Downs, through the most beneficial legislative updates within the last year that all restaurant operators should know about, including NOL Carrybacks provisioned under the CARES Act. Watch the full Video: https://www.youtube.com/watch?v=8O2I4R_e8...2021-06-2810 min

The Tip ShareRestaurant Cash Flow Tips To Ensure Financial StabilityThe Cash Flow Statement is one of the most important indicators of the health of your business, yet it's often overshadowed by its counterparts, the P&L, and the Balance Sheet. During this episode of The Tip Share, RASI Director of Client Advisory Services, Brian McCaig, and Education & Training Manager, Brittany Ward discuss the top reasons why reviewing your Cash Flow Statement is critical for your restaurant's success! Watch the full Video: https://youtu.be/KLkx1bC7354 Read the full Blog Post: https://rasiusa.com/blog/understanding-the-function-of-your-restaurants-cash-flow-statement/ ...2021-06-2141 min

The Tip ShareTop Restaurant Accounting Tips: Closing Out Gift Cards & Catering Deposits For Period EndSuccessfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financial Close is to verify accuracy so you can understand where your money is going in order to make quicker, more educated business decisions. When Closing out the period, it should start with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, there are even more defined areas of focus that should pop out to an operator as a...2021-06-1608 min

The Tip ShareWhy Your Restaurant Should Market Valuable Business Meal Write-OffsThe IRS has recently provided guidance covering The Taxpayer Certainty And Disaster Tax Relief Act of 2020. The new legislation allows for a temporary 100% tax deduction for business meal expenses for food and beverages that are purchased from a restaurant. Normally, a business meal expense is 50% tax-deductible, so the 100% deduction is provisional for expenses that are incurred from January 1st, 2021 through December 31st, 2022. Tune in to this week’s podcast and learn why restaurants should be marketing to all businesses around them about this valuable write-off! Read the full Blog Post: https://rasiusa.com/blog/why...2021-05-2908 min

The Tip ShareIs Your Restaurant Missing Out On Beneficial Tax Credits?Over the last year, we've seen a number of government programs designed to assist the restaurant industry with grants and loans. For many years prior, however, there's been an offering of tax credits for hiring and employing certain groups of individuals that has been extremely underutilized. During this episode of The Tip Share, RASI Partner Efficient Hire’s Chris Woltz, Chief Operations Officer, and Amber Ankele, Director of Services Operations, join RASI Director of Partnerships, Brad Bertram to discuss the Work Opportunity Tax Credit, or WOTC as it is most commonly referred to. Read th...2021-05-2425 min

The Tip Share3 Easy Steps To Achieve Operational EfficiencyConsidering the uncertainty of the past year and the unprecedented changes that the hospitality industry has undergone due to the pandemic, we’ve continuously focused on the detailed specifics of restaurant accounting best practices to ensure financial success, even during trying times. While detailed specifics are a must-have in your accounting arsenal, it’s equally as important to look back and rely on the fundamentals to double-check that your foundation is solid. Here’s how to get back to the basics of restaurant accounting with three simple yet effective steps that will set your restaurant on the path to financ...2021-05-1726 min

The Tip ShareRestaurant Accounting Tips: How To Audit Due To/From AccountsSuccessfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financial Close is to verify accuracy so you can understand where your money is going in order to make quicker, more educated business decisions. When Closing out the period, it should start with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, there are even more defined areas of focus that should pop out to an operator as a...2021-05-0504 min

The Tip ShareRestaurant Tax Credits In The American Rescue Plan ActThe American Rescue Plan Act of 2021 (ARPA) is an Emergency Legislative Package to Fund Vaccinations, Provide Immediate, Direct Relief to Families Bearing the Brunt of the COVID-19 Crisis, and Support Struggling Communities. ARPA was signed into law by President Joe Biden on March 11, 2021. It builds upon the directives of the CARES Act from March of 2020, and the Consolidated Appropriations Act from December of 2020. During this episode of The Tip Share, RASI Compliance Director, Brian Smith, and RASI Director of Client Advisory Services, Sydney Lynn, highlight the various Tax Credits behind ARPA, which could be beneficial for restaurant owners across...2021-05-0306 min

The Tip ShareSustainability & The Restaurant Industry - What Can You Do To Help?As we recently passed another trip around the sun to celebrate the 51st Anniversary of Earth Day, it got us thinking: What can we do in the restaurant industry to help the efforts now, and in the future, considering this years’ theme of “Restore Our Earth.” Pre-Covid, sustainability efforts were beginning to creep up onto every restaurant owner’s radar as a major consideration; however, when owners were forced to shut down and let go of countless staff members, that spot on the radar faded into the distance and everything became strictly about survival. During this week’s Tip Share, RASI...2021-04-2624 min

The Tip ShareBest Practices To Close Out Tips & House Bank For A Favorable Period EndSuccessfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financial Close is to verify accuracy so you can understand where your money is going in order to make quicker, more educated business decisions. When Closing out the period, it should start with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, there are even more defined areas of focus that should pop out to an operator as a...2021-04-1906 min

The Tip Share6 Ways To Build Better Budgeting Strategies For Summertime SuccessYou’ve made your budget for 2021, but Q1 is over and now it’s time to adjust and tweak as you’ve seen your results. Summer is nearing and encouraging news is hitting the nation with Covid vaccines in arms, re-openings, and there's so much positivity to draw on moving forward. With the ice slowly melting and patios regaining the spotlight, restaurants know that the extra square footage means extra sales. This week on The Tip Share, RASI New Business Strategist, Dave Downs, sits down with RASI Squad Lead, Sondra Monaco, and RASI Client Advisor, Adam Walsh to chat about...2021-04-1222 min

The Tip SharePPP Changes & The Definition Of Non-Payroll ExpensesThe Economic Aid Act, which was part of the Consolidated Appropriations Act, expanded the definition of non-payroll expenses that are eligible for PPP forgiveness to include operations expenditures. These newly added categories are set to help restaurants in a large way. Learn about the legal amendments and see how your restaurant could be positively affected by the updates! Read the full Blog Post: https://rasiusa.com/blog/ppp-changes-the-definition-of-non-payroll-expenses/ Watch the full Video: https://youtu.be/j2-jZkIm4AQ Social Handles: RASI Instagram: https://www.instagram.c...2021-04-0506 min

The Tip ShareTop Ways Banking & Payroll Have Changed In Today's Digital WorldRASI Director of Partnerships, Brad Bertram sits down with RASI Partner, Branch, to discuss the various ways that digital banking can aid restaurant operations in becoming more efficient, and how making payroll a digital affair also benefits employees. In the on-demand world that we live in, getting money in employees' hands as quickly as possible is crucial to retaining top talent, and it's also now possible through a new form of banking. Learn how in this episode of The Tip Share! Read the full Blog Post: https://rasiusa.com/blog/top-ways-banking-payroll-have-changed-in-todays-digital-world/ Watch...2021-03-2227 min

The Tip ShareHow the New SBA Changes Better Accommodate Small Business Restaurants For PPP LoansAs the Small Business Administration (SBA) continues to make changes within the requirements and restrictions for PPP Loans, RASI Compliance Director, Brian Smith, ensures small business owners are up to date on the latest amendments. Check out the newest modifications that the SBA has made to the PPP Loans in order to better accommodate small businesses! Read the full Blog Post: https://rasiusa.com/blog/how-the-new-sba-changes-better-accommodate-small-business-restaurants-for-ppp-loans/ Watch the full Video: https://youtu.be/8USdgV-73H4 Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ 2021-03-1506 min

The Tip ShareTop 3 Components Of Growth For QSR Success In 2021In this episode of The Tip Share, we wrap up the final segment of our 3-Part QSR miniseries on growth strategies. During Part One, we spoke about how leveraging technology can help operators actually reduce costs and improve efficiencies in today’s current industry climate, and covered the various types of tech that operators are utilizing to grow their businesses. Last week, in Part Two, we spoke about labor management and the impact that technology has on labor control at the store- level and also at the home office level. We also discussed how technology has been used to ei...2021-03-0814 min

The Tip ShareHow Experts Use Technology To Help QSR Labor ManagementIn this episode of The Tip Share, we dive into the second segment of our 3-Part mini-series for QSR growth strategies. In Part One, we spoke about how leveraging technology can help operators actually reduce costs and improve efficiencies in today's current industry climate, and what types of tech operators are utilizing to grow their businesses. Our top takeaways from the session? Streamlined Data, Automation, and Integration (de-fragmenting systems) all help to create operational efficiencies by getting rid of manual processes, and provides greater accuracy and visibility into the business, enabling operators to make better business decisions, ultimately increasing...2021-03-0114 min

The Tip ShareHow Period End Reviews Can Set Your Restaurant Up For Financial SuccessRestaurants are well attuned to making it work on thin margins, and the operators who find the most success are those who have a true understanding of their fiscal health and keep their finger on the financial pulse of their business at all times. In this episode of The Tip Share, RASI New Business Strategist, Dave Downs takes a moment to chat with RASI Squad Leads, Dave Holzer and Jesse Brown, both tenured accountants, to provide insight and expertise on the top 5 areas that restaurants should be focused on in order to keep the upcoming period purely goal-oriented based...2021-02-2219 min

The Tip ShareThe Tip Share: How Technology Can Actually Decrease Costs And Increase QSR ProfitsAs the industry is keenly aware, not only did health and safety guidelines vastly change for restaurants across the nation in 2020, but unavoidable adjusted consumer trends also meant that many brands scrambled to make heavy technology investments that would support operators in making the right decisions for their businesses to survive in the new normal. In this episode of The Tip Share, we dive into the first segment of our 3-Part mini-series for QSR growth strategies. During this segment, RASI Director of Partnerships, Brad Bertram, chats with Don Kreye, Delaget Director of Partnerships and Don Bye, Delaget Client Success...2021-02-1514 min

The Tip ShareBalancing PPP Second Draw & ERTC to Maximize Forgiveness & Tax CreditsMany questions continue to arise about the legislation and stimulus provided by congress surrounding the pandemic. The major players, PPP & ERTC, serve some much-needed relief for small businesses, but the million-dollar question remains: How can you utilize the aid while maximizing your forgiveness and tax credits? RASI Director of Compliance, Brian Smith, sits down with RASI Client Advisor, Sydney Lynn to discuss the top strategies in which to balance both the PPP and the ERTC together. Finding the fine line within the balancing act will enable businesses to position themselves much stronger in order to maximize their forgiveness, and...2021-02-0807 min

The Tip ShareHow Restaurants Can Adapt To The Needs Of To-Go & DeliveryThe impact of the pandemic on restaurants has been severe. Many states have unfortunately experienced a roller coaster with restrictions and shutdowns changing constantly, and restaurants were continuously forced to change the way that they've always done business. They sought survival through curbside and delivery orders instead of dine-in services, and some businesses like Old Thousand, a neighborhood Chinese-inspired restaurant located in Austin, TX, fully embraced the pivot to delivery and to-go and capitalized on this new era of dining. Fortunately, serving Chinese food they already had the structure in place to dive headfirst into to-go. Prior to the...2021-02-0110 min

The Tip ShareTop 3 Reasons Outsourcing Accounting & Payroll Can Help A QSR BrandWhen COVID first hit, dining rooms closed, and businesses dropped 60-70% below where they would normally sit, and operators panicked. They were forced to pick up the pieces of their operations and determine their next moves to stay open, yet still remain in compliance with restrictions. While the independent restaurants have been faced with massive hurdles, there’s been spectacular growth in creativity and grit as they continue to find new ways to build revenue. On the quick-service side, while not out of the woods entirely, franchisees have found some breathing room being able to heavily operate through their dr...2021-01-2511 min

The Tip ShareRestaurant Accounting for PPP Forgiveness & Tax Credits/Deferrals Under the FFCRA & CARES ActThis year's tax season has the ability to get ugly if you're not sure where to look for answers. With the constant changes throughout the last year within the PPP, the FFCRA, and the CARES Act, questions are starting to swirl about the accounting for loan forgiveness, and what's involved with the possible tax credits or deferrals. RASI Director of Compliance, Brian Smith, and Sydney Lynn, Director of Client Advisory Services, take a deep dive into Tax Season 2021 to untangle the web of stimulus legislation and outline everything you need to know to ensure your books are...2021-01-1808 min

The Tip ShareRetroactive Employee Retention Tax CreditWith the passage of the Consolidated Appropriations Act of 2021, which contained another round of COVID stimulus for businesses, PPP loan recipients are now eligible to claim the Employee Retention Tax Credit (ERTC) retroactively for eligible wages paid in 2020, even if the PPP loan has been or will be 100% forgiven. Tune in to hear how. Read the full Blog Post: https://rasiusa.com/blog/retroactive-employee-retention-tax-credit/ Watch the full Video: https://youtu.be/sWb-6y1GpOM Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ ...2021-01-1112 min

The Tip Share2021 Outlook On Restaurant Purchasing & DisposablesThe trickle-down effect that COVID-19 has had on restaurants has been astronomical. From to-go programs becoming the new front line of restaurants causing disposables to go through roof; to sustainability desires; inventory needs, and more; the world of paper and packaging is at the top of every operator’s radar. And if it’s not, you’re missing the mark. We know that delivery and to-go isn’t going to die down any time soon, and we know that the need for sterile gloves and items of the like are here to stay. So in a world where everyone has the...2020-12-2826 min

The Tip Share2021 Payroll Updates That May Affect Your RestaurantPayroll for Restaurants is no longer just about cutting checks for hours worked. It’s evolved into understanding and maintaining compliancy with both Federal & State mandates. Law changes and enactments regarding PPP, Loan Forgiveness, Safe and Sick time, Overtime, Paid Time Off, etc. have created a world of litigation and increased labor costs. It’s imperative to remain up to date with the upcoming changes to make sure your restaurant is set up for success in 2021! Read the full Blog Post: https://rasiusa.com/blog/2021-payroll-updates-that-may-affect-your-restaurant/ Watch the full Video: https://youtu.be/T...2020-12-2114 min

The Tip ShareHow Your Restaurant's Website Can Drive More RevenueIt’s no secret that the global pandemic has created a fundamental shift within the restaurant industry. Having an online presence in the last 5+ years has been important; in 2020 and moving forward, that commanding digital presence is not just important, it’s now critical for survival. The future of the industry in a COVID-safe world heavily relies upon technology and finding both creative and functional means to connect diners to restaurants. This is the most efficient and effective way for patrons to continue to support their local eateries, and for restaurants to begin to thrive again in this highly focu...2020-12-1421 min

The Tip ShareState Of The Restaurant Industry with UpserveThis year the restaurant industry has been turned on its head and every operator has had to make major adjustments just to ensure their businesses survive. RSI Director of Partnerships, Brad Bertram is joined by RSI Partner, Amber Van Moessner, Senior Director of Communications at Upserve as she delves into the top trends of the restaurant industry in 2020 as well as what to expect for 2021; plus, some bonus tips from 10 restaurants who were able to grow their Year-Over-Year Sales by 188% this year. Check out what the Upserve Data Science Team learned from their 10,000+ restaurant customers! 2020-12-0734 min

The Tip ShareHow Your Restaurant Can Turn Challenge Into OpportunityWhen faced with a perceived threat the brain instinctively triggers an acute fight-or-flight response. As COIVID made its invasion into the U.S. early this year and restaurant owners were faced with shutdowns and dining restrictions (the likes of which have yet to slow down), every operator had to make a choice: stay; fight like hell for their businesses or, shut their doors for good. Joe Frillman, Executive Chef & Owner of Daises, Chicago’s Logan Square, chose the former. He took the challenge and swiftly turned it into an opportunity. Throughout the vast changes that Daisies has un...2020-11-3012 min

The Tip ShareHow To Decode Your Profit & Loss Statement (P&L)Many restaurant managers don't actually have a full understanding of how to read a Profit and Loss Statement (P&L), or even have a basic understanding of where the data is coming from, let alone how to interpret the data. It’s critical for the financial health of all restaurants that those who are making scheduling decisions, buying decisions, etc. fully comprehend how to read an income statement and can utilize the knowledge behind what actually goes into the P&L. In this episode we will take you through an example, top to bottom, of a P&L...2020-11-2345 min

The Tip ShareThe Paycheck Protection Program (PPP) Journey - What We Know NowThe landscape of the Paycheck Protection Program (PPP) has continued to change shape from the day that it passed and it doesn’t seem to be settling down any time soon. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was the first to hit the floor at the end of March; then came The PPP Flexibility Act a few months later at the beginning of June, and along the way, there have been 24 Interim Final Rules issued by the Treasury; and 77 SBA FAQs. As we all wait with bated breath for the second round of stimulus to pu...2020-11-1614 min

The Tip ShareTop Tips For Restaurants To Hire The Best CandidatesDetermining the keys to success for attracting and hiring top talent for restaurants is paramount to building a sustainable brand that can grow. We all know turnover runs rampant in the hospitality industry, so how is it possible, especially in a time like now when we’re smack dab in the middle of a global pandemic, to even begin with the hiring process and how can you effectively measure if what you’re doing is remotely successful? RSI Director of Partnerships, Brad Bertram, took a moment to sit down with Jake Nolte, GM for the Efficient Hire Applicant Tracking Solut...2020-11-0924 min

The Tip ShareHow To Pivot Your Restaurant To Find Success During CovidWhen the global pandemic hit the US in March and our world shut down, businesses were left wondering how to survive. As restrictions have been lifted in some regions and re-enforced in others, the resiliency of the hospitality industry has proven a force to be reckoned with. Chefs, Owners, and Restaurant Operators have taken to a careful mix of creativity and industry expertise in order to find the perfect blend of ingredients for success throughout this roller-coaster crisis we’re finding ourselves in. During this week’s episode of The Tip Share, RSI Senior Client Advisor, Brian McCaig sits down...2020-11-0215 min

The Tip ShareHow To Control Cost of Goods (COGS) In A RestaurantWith already narrow restaurant margins becoming even slimmer during a pandemic, every penny counts; and Cost Of Goods (or to some, Cost Of Sales) take up a significant amount of a restaurant’s overall expense. Unfortunately, many owners/operators fail to see how, if mismanaged and handled inconsistently, Restaurant COGS can have major a negative impact on profitability and cash flow. Point-blank: It’s critical to the health and survival of all restaurants that you understand your COGS and how to manage them accurately, here's how. Read the full Blog Post: https://rasiusa.com/blog...2020-10-2641 min

The Tip ShareHow Restaurant Purchasing Behavior Is ChangingCoronavirus has affected the entire world; it has completely altered the landscape of both consumer and vendor behaviors, and perhaps the most harshly impacted industry has been hospitality. Restaurants have had to pivot their business models catering to mainly delivery and takeout options which directly affects their menu offerings and spending habits in order to preserve as much margin as they can during a time when point-blank, sales are down. We sat down with Max Stryker and Catherine Reeves from the RSI Restaurant Purchasing Department to discuss the vast amount of changes they, and our vendors, have...2020-10-1921 min

The Tip ShareWhy Restaurants Should Become Their Own Media Companies (feat. Cali Comfort BBQ)As a small Independent Restaurant owner who’s plunged headfirst into content marketing and worked with huge media organizations, digital marketers and SEO professionals, Shawn Walchef of Cali Comfort BBQ has honed in on his craft and built his entire culinary brand on digital hospitality; and he’s done it all in-house with his longtime friend, former newspaper editor, and current Content Publisher & Digital Strategist for Cali BBQ Media, Stover E. Harger III. Check out the full interview and our top 4 takeaways on: How To Become Your Own Media Company Find a clear focus for y...2020-10-0810 min

The Tip SharePPP Loan Forgiveness – The Outlook For RestaurantsThe Paycheck Protection Program (PPP) continues to change form on what seems like a daily basis. The landscape has changed greatly since The CARES Act was initially passed and the covered period has now been extended which enables borrowers more time to use their PPP funds; but the million-dollar question remains: What does PPP Forgiveness look like right now and how do I ensure my loan is forgiven? RSI Director of Compliance, Brian Smith, and RSI Director of Client Advisory Services, Sydney Lynn, sit down to share their tips on what they’ve seen come through the IR...2020-10-0614 min

The Tip ShareWhat Profits Did You Leave On The Table In 2019?In our 27th episode of Operating a Profitable Restaurant, recurring panel hosts Michele O'Neill and Dave Downs had a great opportunity to speak with Michelle Heller and Eddie Velazquez to discuss how our strategic partnerships with Efficient Hire and BentoBox can assist owners and operators in getting the most bang for their bucks by driving more top-line revenue and saving dollars through streamlining HR & compliance. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc 2020-02-2758 min

The Tip ShareMenu Planning: Costing, Development, Trends, and SeasonalityIn our 25th episode, learn pro tips and best practices from seasoned restaurant veterans, Chef and Owner Fred Neuville of the Fat Hen Restaurant in South Carolina, and Zoe Schor, Chef and Owner of the Split-Rail in Chicago. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2019-04-1158 min

The Tip ShareBudgeting & Incentive Planning in your Restaurant: The hows, whens, and most importantly, the whys!In our 24th episode of Operating a Profitable Restaurant, host Dave Downs, RASI Client Advisor, sits down with Ryan Rose, Executive Chef of Zocalo Restaurants, and David Miller, Owner of Kickin Chicken Restaurants to dive deep into best practices behind budgeting and incentive planning for your restaurant. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2019-02-2858 min

The Tip ShareBest Practices for a Successful Year-End, and Top Restaurant Trends & Predictions Going into 2019In our 23rd episode of Operating a Profitable Restaurant, host Dave Downs, RASI Client Advisor, sits down to chat with other RASI Industry Experts, Julie Schligman, Assistant Director of Operations Specialists, and Leon McMullan and Steve Rennau, New Business Development Reps, on the questions they’re getting from operators in regards to wrapping up 2018, and what they’re seeing for the future of the restaurant industry in 2019. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/Rest...2018-12-2053 min

The Tip ShareEverything You Need To Know About Professional Level Services In The RestaurantRemaining competitive in today’s restaurant industry landscape means bringing on partners and services that will not only help you enhance the guest experience but aid in your team retention, all while staying true to your brand. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2018-11-1554 min

The Tip ShareHow Can Your Restaurant Remain Compliant With ACA?Have you battled with remaining compliant with ACA regulations? Are you lost in the legal jargon and don’t know what your options are? Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2018-10-1636 min

The Tip ShareRestaurant Delivery Services & Incremental Revenue – Is It Right For You?Have you battled back and forth about whether adding a Delivery Service to your restaurant would help or hinder your operation? Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2018-09-2548 min

The Tip ShareRASI Compliance Team, New Jersey Sick Leave, & Your Restaurant (feat. RASI Director of Compliance, Brian Smith)Remaining compliant in today’s restaurant industry landscape is no task for the faint of heart. With state and federal regulations constantly changing, it’s easy to see how so many independent restaurants are getting fined for compliance issues. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2018-09-2408 min

The Tip ShareOpening a Restaurant: Tips & Advice From The Pros Who’ve Done It Successfully (feat. Attila Szabo, Wildfin & Stack 571 Burgers, and Rob Coburn and Paige Crandall, El Camino & South Town Pie)Have you dreamed of opening a restaurant? How about your 2nd, 3rd, 4th or even 10th? In this episode of Operating a Profitable Restaurant, hear from restaurant vets Attila Szabo of Wildfin & Stack 571 Burger Groups who has a total of 5 restaurants soon to be 10, and Rob Coburn & Paige Crandall from El Camino. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2018-08-0249 min

The Tip ShareThe Shift on Modern Day Restaurant Management (feat. Dan Skvarca, Mercantile & Fruition, and Josh Fay, The Rio Grande Restaurants)Do responsibility and privilege go hand-in-hand for your management team? In this episode of Operating a Profitable Restaurant, seasoned Independent Restaurant Owners, Dan Skvarca from Mercantile, and Josh Fay with Rio Grande sit down alongside RASI Industry Experts Michele O’Neill and Dave Downs as they discuss the evolution of leadership roles within the modern day restaurant environment. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/co...2018-05-151h 02

The Tip ShareHow To Successfully Manage Your House Bank (feat. RASI Accounting Team)Managing your house bank is critical to keep track of your operating cash and ensuring that the balance in your House Bank is in line with the amount of cash that you have on hand. Proper management will assist you in verifying that all house bank transactions are being recorded properly. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2017-12-1615 min

The Tip ShareTop 3 Restaurant Compliance Issues (feat. RASI Director of Compliance, Brian Smith)Two things to think about each time you come across a compliance matter: One - Simply being in compliance, and Two - Managing your business so that your compliancy doesn't damage the experience with your guest, your team and your profit. Tune in to listen to Brian and Matt dive deeper into the subject that's got everyone scratching their heads in search for the answers! Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc 2017-03-2322 min

The Tip ShareYear-End Restaurant Accounting Tasks (feat. RASI Training Team)In this episode of Operating a Profitable Restaurant, RASI Partner and Strategic Development Officer, Matt Vannini, sits down with our RASI Operational Specialists to speak in-depth about the imperative year-end accounting tasks that every operator should be doing in order to start the new year with a bang! Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2016-12-2229 min

The Tip ShareHandling The Challenges of Restaurant Overtime (feat. Emily Biederman, CFO Secret Sauce)In this episode of Operating a Profitable Restaurant, RASI Partner and Strategic Development Officer, Matt Vannini, takes a moment to sit down with Secret Sauce's CFO, Emily Biederman to discuss the implications of the new OT ruling which becomes effective on December 1, 2016. Tune in to hear Matt and Emily run the gamut of all things overtime - from salary strategy and compliance, to tracking OT, to bonuses and wages; they've got you covered. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ ...2016-11-0733 min

The Tip ShareStrategies To Quantify Your Restaurant’s Brand-ValueDuring today's Podcast, RASI Partner and Strategic Development Officer, Matt Vannini dives into the vast world of branding and ties it in to none other than what we do best: restaurant accounting. Tune in to hear Matt's take on how to measure your brand's effectiveness and the actual dollar cost it can have on your restaurant if deemed ineffective. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin...2016-08-1113 min

The Tip ShareThe Restaurant Tipping rEvolution (feat. RASI Ops Specialist Brian McCaig)This month we’re circling back to the polarizing topic we covered back in November that has morphed into its own breed of beast. The boundless discussion of tip removal has evoked frustrations across the board with the government rearing its head smack dab into the center of the game. The discussion is more heated than ever. Restaurateurs are not only faced with the implications of ACA but they’re also dealing with payroll compliancy issues; and the cherry on their sundae, the elimination of tip pooling by the 9th circuit court. Social Handles: 2016-07-0531 min

The Tip ShareThe Affordable Care Act and Your RestaurantDuring this afternoon's Podcast, Matt and Dr. Kahle sit down for a little lesson in the Affordable Care Act. ACA is difficult to understand with the ever-changing rules and regulations but Dr. Kahle breaks down the bill in ways you can simply understand. Listen to this episode and hear our dynamic duo cover Commonality and Ownership, Full-Time Equivalent vs Variable Hour Employees and their roles in ACA, reporting requirements, compliance-based plans, operational best practices, and more. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com...2016-02-2037 min

The Tip ShareHow To Successfully Open a Restaurant (feat. Owen & Marie Jobson)Starting a restaurant takes guts, gusto, tenacity, and a whole 'lotta heart. In this episode of Operating a Profitable Restaurant, RASI Strategic Development Officer, Matt Vannini had the pleasure of speaking with Owen and Marie Jobson from Blue Rock BBQ about their personal stories of struggle in opening their restaurant and what steps they took to become so successful today. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www...2016-01-2241 min

The Tip ShareYour Year-End Restaurant Accounting Checklist (feat. RASI Trainers)In this episode of Operating a Profitable Restaurant, RASI Partner and Strategic Development Officer Matt Vannini takes a moment to round table with industry experts on the restaurant accounting best practices that will set our clients and their businesses up for a prosperous year. Social Handles: RASI Instagram: https://www.instagram.com/rasinc__ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi 2015-12-2230 min